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According recent reports, Walt Disney is close to confirming a deal to buy 21st Century Fox’s entertainment assets for about $60 billion.

The sale would include the 20th Century Fox film studio and the Sky and Star satellite broadcasters in Europe and Asia.

Disney was left as the front runner after Comcast, the NBC owner, dropped out of the race on December 11.

According to the Financial Times, talks about the price were continuing on December 12.

CNBC reported that Fox and Disney were on a “glide path” for an announcement on December 14, according to people familiar with the negotiations.

The Murdoch family was said to favor a deal with Disney because it would rather be paid in the entertainment giant’s shares than Comcast stock.

Image source Wikipedia

A deal with Disney could also face fewer regulatory hurdles, although it is extremely unlikely to be waved through.

Also in question is what will happen to 21st Century Fox’s bid to buy the 61% of Sky that it does not already own.

Walt Disney Profits Jump 11% in Q1 2017

The deal is already under scrutiny by the UK Competition and Markets Authority (CMA), which is expected to publish its provisional findings in January.

It is not clear whether Disney will continue with the takeover if it buys the 39% stake from 21st Century Fox as part of the wider transaction.

The assets being sold by Fox include its FX and National Geographic cable channels, 22 regional US sports networks and the company’s stake in the Hulu streaming platform in the US.

It would also add to Disney’s extensive movie and TV library, with movies such as Avatar and Deadpool, as well as small screen hits including The Simpsons and Modern Family.

The Fox broadcast network, Fox News and Fox Sports would remain under the Murdochs’ control.

As well as its film studio, Disney also owns the ESPN sports network and cable channels.

Rupert Murdoch’s decision to sell most of Fox has surprised many commentators given his desire to continually expand his media empire over the past five decades.

Talks were understood to have been held between the two companies in November but did not result in an agreement.

Shares in Disney rose 0.5% in New York on December 12, valuing the company at $162 billion, while 21st Century Fox added 1%, valuing it at $62.6 billion.

Fox shares have jumped by close to a third over the past three months.

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Jerry Hall has married media mogul Rupert Murdoch in London ceremony.

Rupert Murdoch, whose News company publishes The Times and The Sun newspapers, and Jerry Hall married in a civil ceremony at Spencer House.

It is 84-year-old Rupert Murdoch’s fourth marriage and the first for Jerry Hall, 59, after her 1992 Bali wedding to Mick Jagger was later deemed legally void.

Australian-born Rupert Murdoch, who now has US nationality, tweeted he was “the luckiest and happiest man in world”.Rupert Murdoch marries Jerry Hall

Jerry Hall and Rupert Murdoch will hold a private ceremony of celebration on March 5 at London’s St Bride’s Church, in Fleet Street, which proclaims itself as the “spiritual home of the media”.

They announced their engagement in the births, marriages and deaths section of The Times in January.

Rupert Murdoch, whose family controls 120 newspapers in five countries, split up with his third wife Wendi Deng in 2013.

His relationship with Jerry Hall reportedly began last summer and they are rumored to have got engaged while in Los Angeles earlier this year.

Rupert Murdoch and Jerry Hall are reported to have been introduced to each other in Australia by one of Murdoch’s sisters and his niece.

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21st Century Fox has confirmed that Rupert Murdoch’s son, James, will take over as chief executive from his father on July 1.

Rupert Murdoch, 84, will become executive co-chairman, along with his other son Lachlan, who is currently co-chairman.

He said in a statement that his sons would “strive to take our company to new levels of growth”.

The current president, Chase Carey, will act as executive vice-president until June 2016.

Rupert Murdoch is still expected to have the final say in decisions at the company, which owns the broadcaster Fox News as well as the 20th Century Fox film studio.James Murdoch Fox CEO

It was split off from Rupert Murdoch’s less profitable newspaper business, News Corporation, two years ago.

Rupert Murdoch said: “It has always been our priority to ensure stable, long-term leadership for the company, and these appointments achieve that goal.

“Lachlan and James are each talented and accomplished executives and together, we, as shareholders and partners, will strive to take our company to new levels of growth and opportunity at a time of dynamic change in our industry.”

James Murdoch, 42, and his brother Lachlan Murdoch, 43, said in a joint statement they were both “humbled” by the opportunity to lead the company with their father and the executive team.

Chase Carey, a respected media executive, has been president and chief operating officer since 2009.

It is thought that Chase Carey’s continued presence on the board will reassure investors.

Shares in 21st Century Fox have fallen almost 13% since the start of this year, but are more than 100% higher than in June 2010.

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Rupert Murdoch will step down as 21st Century Fox CEO, sources close to the company say.

His son James will take over the role, while his other son Lachlan will become executive co-chairman.

Rupert Murdoch, 84, will remain as executive chairman at the company and still have the final say in matters.

The company said the matter of succession would be discussed at the next board meeting.

It would not comment further.Rupert Murdoch to step down

James Murdoch, 42, has been acting as co-chief operating officer at Fox after leaving his job running BSkyB. His new role will entail running the day-to-day business of Fox.

As executive co-chairman, Lachlan Murdoch will effectively be James’ boss.

COO Chase Carey will step down and take on a role as adviser to the company.

21st Century Fox was created two years ago after being split up from Rupert Murdoch’s less profitable media company, News Corp.

It owns the Fox Hollywood studios and television businesses.

In Q1 2015, 21st Century Fox reported net income of $975 million, while News Corp, which owns the Wall Street Journal, The Times and The Sun, made a profit of $23 million.

Rupert Murdoch’s News Corp will not be prosecuted in the US over the phone-hacking scandal in the UK.

US officials were looking into whether alleged payments to British police by journalists meant that News Corp, a US company, broke anti-corruption laws.

The US Department of Justice said on February 2 it was not pursuing charges and was closing its investigation.

The tabloid newspaper at the centre of the scandal was closed down in 2011.

Several News of the World journalists have been prosecuted in the UK, after being accused of hacking phones and paying public officials in return for exclusive stories.

Reporters gained access to the phone of missing British schoolgirl Milly Dowler, who had been murdered.

Photo Getty Images

Photo Getty Images

The FBI had trawled through thousands of emails on News Corp servers, looking for evidence of any possible violations of US law.

The DOJ said in a statement on February 2 that it was ending its “investigation into News Corp regarding possible violations of the Foreign Corrupt Practices Act concerning bribes allegedly paid for news leads”.

It reserved the right to reopen the inquiry if new information came to light, it said.

News Corp said it had been notified and welcomed the news.

“We are grateful that this matter has been concluded and acknowledge the fairness and professionalism of the justice department throughout this investigation,” said Gerson Zweifach, general counsel of News Corp.

A lawyer acting on behalf of a group of relatives of victims of the 9/11 attacks, who suspect that their phones were hacked, said that it was “very disappointing” that the investigation had ended.

Rupert Murdoch controls both News Corp and its sister company Twenty-First Century Fox, which split into separate businesses in 2013.

21st Century Fox has withdrawn its bid to purchase entertainment giant Time Warner for an estimated $80 billion.

Time Warner rejected Fox’s initial offer in July.

Rupert Murdoch’s company wrote in a statement that Time Warner had “refused to engage with us to explore an offer which was highly compelling”.

It added that the reaction in the company’s share price since the proposal was unveiled undervalued Fox.

Fox’s share price has declined by 11% since news of the takeover was revealed.

21st Century Fox has withdrawn its bid to purchase Time Warner for an estimated $80 billion

21st Century Fox has withdrawn its bid to purchase Time Warner for an estimated $80 billion

Meanwhile shares in Time Warner plunged more than 11% in after-hours trading after the surprise news of the withdrawal was announced.

“Time Warner’s Board and management team are committed to enhancing long-term value and we look forward to continuing to deliver substantial and sustainable returns for all stockholders,” said Time Warner in a statement.

A merger between the two giants would have significantly altered the media industry in the US and created one of the world’s largest media conglomerates.

Time Warner owns several lucrative cable channels – including HBO, TNT, and TBS – whereas Fox is the owner of the dominant Fox News channel in the US.

The acquisition offer was seen as a way for Fox to stay competitive as other big players in the industry, including Comcast and AT&T, also engage in mergers and take over offers.

Some observers wondered if the withdrawal was just a ploy by Rupert Murdoch to drive Time Warner’s share price lower as part of his larger takeover strategy.

As part of the announcement, Fox also said it would authorize a $6 billion share repurchase program.

That pleased investors, who sent shares in the company up over 7% in trading after markets were closed.

Both companies are set to report their second-quarter earnings on Wednesday.

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Rupert Murdoch has appointed his sons Lachlan and James to top roles at his media and entertainment empire News Corp and 21st Century Fox.

Lachlan Murdoch returns to the Murdoch empire as co-chairman of News Corp and 21st Century Fox, having previously stood back to focus on his own businesses.

Meanwhile, younger son James Murdoch was appointed co-chief operating officer at 21st Century Fox.

After the phone hacking scandal, James Murdoch quit as executive chairman of News International in 2012.

Rupert Murdoch has appointed his sons Lachlan and James to top roles at News Corp and 21st Century Fox

Rupert Murdoch has appointed his sons Lachlan and James to top roles at News Corp and 21st Century Fox (photo Getty Images)

News Corp is one of the world’s biggest media organizations, and owns newspaper titles The Times, Sun, and the Wall Street Journal.

News Corp split from 21st Century Fox in 2013. The business owns broadcaster Fox News in the US and British Sky Broadcasting in the UK.

Rupert Murdoch, who went through a high-profile split with wife Wendi Deng last year, said Lachlan was a “talented executive” with a “rich” knowledge of the business.

Lachlan Murdoch will report to Chase Carey, chief executive at 21st Century Fox.

Rupert Murdoch said: “I am very pleased he is returning to a leadership role at the company, where he will look closely with me, Chase, James and rest of the board of directors to drive continued growth for years to come.”

He also said he was “pleased” to promote James into the “important role”.

There is reportedly no new role for Rupert Murdoch’ third sibling, Elisabeth.

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Rupert Murdoch and Wendi Deng have reached an “amicable” divorce settlement to end their 14-year marriage.

The News Corp boss and his estranged wife told a New York court they would move forward with “mutual respect” and a shared interest in their daughters’ welfare.

The details of the settlement have not been disclosed publicly.

Rupert Murdoch, 82, filed for divorce from Wendi Deng in June saying his marriage had “irretrievably broken down”.

Wendi Deng and Rupert Murdoch have a pre-nuptial agreement and are holding shares in trust for their children.

Rupert Murdoch and Wendi Deng have reached an "amicable" divorce settlement to end their 14-year marriage

Rupert Murdoch and Wendi Deng have reached an “amicable” divorce settlement to end their 14-year marriage

They have two school-age daughters together, Grace and Chloe.

Wendi Deng, 44, is 38 years younger than the Australian-born media mogul, who is said by Forbes to be worth $9.4 billion.

Rupert Murdoch met his Chinese-born wife in 1997 at a cocktail party in Hong Kong. They were married two years later, weeks after his second divorce.

His global media portfolio includes the Wall Street Journal, Times Newspaper Ltd, as well as television channels such as Fox News and Sky, and the 20th Century Fox movie studio.

Rupert Murdoch filed for divorce just days before News Corp was split into two companies, one for its entertainment assets and the other for its publishing business. He is chairman of both firms.

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Wendi Deng Murdoch is the wife and soon to be the ex-wife of Rupert Murdoch – one of the richest men in the world.

Wendi Deng is a businesswoman, mother of two and Yale graduate, but perhaps her biggest claim to fame involves a pie made from shaving foam. Wendi Deng – the third wife of media mogul Rupert Murdoch – slapped a man who was trying to throw the pie into her husband’s face during a British parliamentary hearing into the News International phone-hacking scandal.

The incident was televised and her fame spread, even back to her native China.

It also went some way to improving her image, as gossip magazines had previously labeled 44-year-old Wendi Deng a “gold-digger” for her marriage with the 82-year-old Rupert Murdoch. The “trophy wife” became the “tiger wife” almost overnight.

Wendi Deng and Rupert Murdoch married in 1999. They have two daughters together, 11-year-old Grace and 9-year-old Chloe, and lived in a $44 million Manhattan penthouse, with many other palatial homes around the world.

It’s a long way from Wendi Deng’s childhood in the eastern Chinese city of Xuzhou.

She was born Deng Wenge – literally “Cultural Revolution” Deng – which she changed to Wendi as a teenager.

Wendi Deng Murdoch is the wife and soon to be the ex-wife of Rupert Murdoch

Wendi Deng Murdoch is the wife and soon to be the ex-wife of Rupert Murdoch

Wendi Deng’s father was the director of a factory, and initially she seemed destined to become a doctor, attending medical school in Guangzhou.

But plans changed when, at the age of 18, Wendi Deng met an American couple, Jake and Joyce Cherry.

Joyce Cherry started teaching Wendi Deng English language, and in 1988 the Cherrys sponsored her to get a student visa to study in California.

In 1990, Jake Cherry left his wife to marry Wendi Deng, but less than three years later they divorced.

After a stint working in a California restaurant Wendi Deng was accepted by Yale University to study for an MBA.

Wendi Deng’s connection with Rupert Murdoch’s News Corp began when she was given an intern position at Star Television, a Hong Kong satellite TV service which is part of Murdoch’s vast media empire.

Rupert Murdoch and Wendi Deng met at a cocktail party, and were married two years later – weeks after his divorce from Anna Maria Torv.

That divorce was one of the most expensive in history: Anna Maria Torv received a $1.7 billion settlement.

Wendi Deng is unlikely to receive as much money, as she signed a pre-nuptial agreement, and aides at News Corp have been quick to say that the divorce will not have a big effect on the running of Rupert Murdoch’s empire, which is reportedly worth $9.4 billion.

But she is still likely to receive a sizeable fortune, and she’s also an influential News Corp employee in her own right, playing an important role in the organization’s growth into China, and chief of strategy for MySpace’s China operation.

The Wall Street Journal, one of the many media outlets that Rupert Murdoch owns, once described her as News Corp’s “de-facto diplomat” in China.

Wendi Deng’s also produced her own film, Snow Flower and the Secret Fan, about two foot-bound Chinese children.

While the couple were said to have spent some considerable time apart, their relationship was reportedly strengthened during the allegations of phone hacking that engulfed parts of the Murdoch empire in 2011.

No more so than when Wendi Deng made global headlines as a result of the shaving foam pie incident.

So the announcement of the end of the marriage caught some by surprise. Michael Wolff, Rupert Murdoch’s biographer, told The Daily Telegraph he was “absolutely gobsmacked”.

Rupert Murdoch’s spokespeople have declined to comment on the reasons for the divorce.

Rupert Murdoch and his Chinese-born third wife, Wendi Deng, married on June 25, 1999, just 17 days after his divorce from Anna Maria Torv, to whom he was married for 32 years.

Rupert Murdoch married his first wife, a flight attendant named Patricia Booker, in 1956 and they had a daughter, Prudence, in 1958 before divorcing in 1967. That same year, Rupert Murdoch married Anna Maria Torv, a journalist working for The Daily Telegraph in Sydney, and they went on to have three children: Elisabeth, Lachland and James.

After three decades, Rupert Murdoch and Anna Maria Torv divorced in 1999, with Anna receiving a record settlement of $1.7 billion in assets. She blamed their divorce on Rupert Murdoch’s affair with Wendi Deng, an employee of his Hong Kong-based company Star TV, and “his determination to continue with that. I thought we had a wonderful, happy marriage. Obviously, we didn’t,’ she said, calling him ‘extremely hard, ruthless”.

The marriage to Rupert Murdoch was not the first for Wendi Deng either; her tangled love life was revealed by the Wall Street Journal in 2000.

Growing up as the daughter of a factory worker in Guangzhou in southern China, Wendi Deng’s childhood was a far cry from the opulence she enjoys today. She lived in a modest home but worked hard at school, where she was a champion volleyball player.

While studying at a medical college, Wendi Deng met an American couple, Jake and Joyce Cherry, who had been temporarily relocated to the country to work on a factory. She learned English from the couple and they ultimately sponsored her to travel to the U.S. when she was 19 to take classes at California State University.

But Joyce Cherry soon learned Wendi Deng was having an affair with Jake Cherry, who was three decades her senior, the Wall Street Journal reported. She ordered the girl out of her home and Jake Cherry followed closely behind. He divorced his wife and married Wendi Deng, who was 22.

But they too divorced after Jake Cherry learned Wendi Deng was spending time with a man named David Wolf.

After achieving her MBA from Yale, Wendi Deng joined the Murdoch-owned Star TV in Hong Kong as an intern in 1996.

Rupert Murdoch and Wendi Deng married on June 25, 1999, just 17 days after his divorce from Anna Maria Torv

Rupert Murdoch and Wendi Deng married on June 25, 1999, just 17 days after his divorce from Anna Maria Torv

While his company has claimed that Rupert Murdoch and Wendi Deng met after his separation from his second wife, Anna, sources told the New York Times last year that they met months before in a question session at Star TV.

It was there Wendi Deng stood up and asked: “Why is your China strategy so bad?”

But Wendi Deng was not satisfied with Rupert Murdoch’s answer and after the meeting, she spoke to him further and they discussed media and business, the New York Times reported.

In a biography, Rupert Murdoch explained that he met her “casually once or twice” during meetings at Star TV. He claimed their first date was in June 1998 in London, when Wendi Deng traveled to the city with colleagues from Star.

“I was a recently separated, lonely man, and I said, <<Let’s go out to dinner one night>>, and I talked her into staying in London a couple of extra days – and that was the start of it,” Rupert Murdoch said.

The couple’s wedding ceremony, attended by 81 guests, took place aboard a yacht in the New York Harbor. They went on to have two children: Grace, born in 2001, and Chloe, born in 2003.

The New York Times profile piece noted that while Rupert Murdoch transformed following their marriage – hair dye, Prada suits, workouts – Wendi Deng was also very much changed.

While Wendi Deng once never wore makeup and would try to get dresses on the cheap, she was soon traveling around the world with her husband, stocking up on expensive homeware and bedecking herself in designer gowns and jewelry. Friends noted that she has remained the same brash, confident person throughout, however.

Wendi Deng and Rupert Murdoch’s relationship has not been entirely smooth. In 2006, Rupert Murdoch declared in a television interview that his daughters with Wendi Deng would not have the same voting rights as his children from previous marriages.

His wife was enraged and friends told the Times Wendi Deng threatened to leave him – but they worked through it.

The piece noted that the couple were living “largely separate lives” as Rupert Murdoch struggled to deal with the News of the World phone hacking scandal in London.

Wendi Deng’s defensiveness of her husband became apparent when she famously protected him from a pie-throwing activist during a hacking hearing in London two years ago.

Wendi Deng, showing her athleticism that harked back to her volleyball days, lunged at the attacker to smack him across the head.

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Rupert Murdoch has filed for divorce from Wendi Deng because their marriage has “irretrievably broken down”, his spokesman announced today.

The divorce papers were filed at the New York State Supreme Court.

The News Corp boss and Wendi Deng, married in 1999 aboard a private yacht in New York, have two daughters together, Grace and Chloe.

In 2011, Wendi Deng famously leapt to her husband’s defense to slap a protester who threw a pie at him as British MPs quizzed him over phone-hacking.

Rupert Murdoch, 82, met his Chinese-born third wife in 1997 at a cocktail party in Hong Kong. They were married two years later, weeks after his second divorce.

Wendi Deng, 44, is 38 years younger than the Australian-born media mogul, who is said by Forbes to be worth $9.4 billion.

“I can confirm for the record that Rupert filed in New York State Supreme Court this morning for divorce,” Rupert Murdoch spokesman Steven Rubenstein told AFP news agency on Thursday.

The couple had a pre-nuptial agreement and have held shares in trust for their children.

Rupert Murdoch has filed for divorce from Wendi Deng because their marriage has irretrievably broken down

Rupert Murdoch has filed for divorce from Wendi Deng because their marriage has irretrievably broken down

So our business editor believes the divorce is not likely to lessen the magnate’s grip on his media empire.

Rupert Murdoch, now a US citizen, reportedly paid $1.7 billion in his divorce settlement from his last wife.

Wendi Deng, said to be the daughter of a factory director, was born in 1968 and grew up in the eastern Chinese city of Xuzhou before leaving for the US at 19 to study.

She worked in a Chinese restaurant in California before going on to graduate from Yale University in 1996.

Wendi Deng was later employed by Star TV, News Corp’s Asian satellite-television operation in Hong Kong, where she met Rupert Murdoch during one of his visits.

The divorce filing comes two days before News Corp is to be split into two companies, one for its entertainment assets and the other for its publishing business. Rupert Murdoch is to be chairman of both firms.

His global media portfolio includes the Wall Street Journal, television channels such as Fox News and Sky, and the 20th Century Fox movie studio.

Two years ago, his UK newspaper division became embroiled in a phone-hacking scandal, which led Rupert Murdoch to close one of the titles, the News of the World.

In July 2011, Wendi Deng jumped from her seat during a UK parliamentary hearing to slap a prankster who tried to shove a shaving-cream pie into Rupert Murdoch’s face.

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Fox News chairman Roger Ailes allegedly sent political analyst Kathleen McFarland to Afghanistan to tell then-General David Petraeus that he should run for president in 2012 and that Rupert Murdoch would “bankroll” the campaign.

Bob Woodward of The Washington Post obtained recorded conversations between David Petraeus and Kathleen McFarland, a Fox News analyst who flew to Kabul in the spring of 2011 to pitch the idea to him.

At the time, David Petraeus was the commander of the Allied Forces in Afghanistan, and Kathleen McFarland said that if President Barack Obama didn’t offer him a position like the head of the Joint Chiefs of Staff or something comparable, Petraeus should consider a run for the Republican nomination.

Apparently David Petraeus was unaware that the conversation was being recorded, and Bob Woodward has since gained access to those tapes.

Kathleen McFarland is heard saying that the “advice to you from Roger Ailes is…. He says that if you’re offered (JCS) chairman, take it. If you’re offered anything else, don’t take it; resign in six months and run for president,” according to The Washington Post.

“Tell him if I ever ran…but I won’t…but if I ever ran, I’d take him up on his offer… He said he would quit Fox,” David Petraeus said of Roger Ailes’ alleged offer to help run his possible campaign.

David Petraeus was apparently clear in his rejection of the offer, but also reaffirmed that he respected and liked Roger Ailes.

Fox News chairman Roger Ailes allegedly sent political analyst Kathleen McFarland to Afghanistan to tell then-General David Petraeus that he should run for president in 2012

Fox News chairman Roger Ailes allegedly sent political analyst Kathleen McFarland to Afghanistan to tell then-General David Petraeus that he should run for president in 2012

In the light of his resignation from his CIA post and ensuing sex scandal, another one of David Petraeus’ reasonings against a presidential run is particularly interesting.

He said during the taped conversation that he would not run because “my wife would divorce me. And I love my wife… we have a beautiful house, with his and hers bathrooms, believe it or not. I just want to live in it. I’ve never spent a night in it.”

He also went on to say that in addition to heading up the Joint Chiefs, David Petraeus would consider heading up the CIA as its director if he was offered the position.

He explained that since the military efforts in the Middle East would be ramping down in the following months, much emphasis would be placed on the intelligence community, which piqued David Petraeus’ interest in running the CIA.

That prediction came true just a few weeks after the conversation took place.

When asked for comment for The Washington Post piece, Roger Ailes said that while he did ask McFarland to bring the idea up to David Petraeus, he never meant it seriously.

He explained that he suggested the conversation as a way to get a message across that he felt that, in the early stages of the Republican presidential primary, the main candidates left something to be desired and David Petraeus would shake up the field.